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CME Fee changes 2014, significant impact
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CME Fee changes 2014, significant impact

  #211 (permalink)
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I was wondering if anyone could help me with a query. Would you be classified as a professional if you were CF30 authorised?

IT doesn't really specify and not sure how much they take into account foreign financial regs. Also not sure what the consequences be if I classified myself as non-professional and they disagreed.

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  #212 (permalink)
Market Wizard
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I talked to CME Market Data Services today, they were very friendly and helpful, and confirmed what has already been said and dissected here.

I would like to reemphasize the member netting program they have. The way it was explained to me, if you are a member and registered with the exchange under the netting program you will then be billed directly by the CME, and will not have to pay any data fees at the broker level no matter how many brokers, or devices/platforms you have.

It should be noted that if you are a professional on one exchange you are considered a professional for all the exchanges. Similarly if you are member on just one exchange you are entitled to netting on all exchanges as well. I mention this because some of the memberships are very cheap. (CME/GEM $100/mth, CBOT/IDEM $46/mth!). While these memberships may not come with the fee breaks that some of the more expensive memberships do but for a small fee you may be able to qualify for membership data bundling across the CME Group. An additional thing to consider though is the potential tax implication of being a member.

CME Member Netting Information
http://www.cmegroup.com/market-data/distributor/members.html

CME Membership & Lease prices
http://www.cmegroup.com/company/membership/membership-pricing.html

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  #213 (permalink)
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Notice from CTS:


Quoting 
CTS Users:
In an effort to help alleviate the new market data fees CTS will now offer delayed data for CME, CBOT, NYMEX, COMEX and MGEX.
Any user can go the market data setup page, www.t4login.com, and change their selection to “Delayed”. On the new frontend released this past weekend all Delayed markets will be prefixed with the << symbol to eliminate any confusion.
• Live execution is available from the delayed data markets.
• Your P&L will be displayed based on the delayed quote but pre trade risk management will use the real time data
• You may choose to have a combination of Live and Delayed data. Subscriptions are selected at the Exchange level for CME, CBOT, NYMEX and COMEX. For example you can choose Live for CME and CBOT but receive delayed data for NYMEX or COMEX.
• CTS’s T4 Delayed Feed is an exchange compliant market data feed delivering a complete market data stream after a brief 10 minute delay.
• When entering an order into a Delayed market you will be prompted to confirm as the price you are seeing may be different from the current price due to the delay. You can turn this confirm off in the Main window properties >Contract> Submission> then unchecking the 'Delay Market Confirmation' setting.
• Not all order types are available in Delayed markets
• After making any market data changes you must restart T4 for the changes to take effect

Any questions please email support@ctsfutures.com

Mike

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  #214 (permalink)
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Rithmic Data Into Sierra & NinjaTrader

I am using Rithmic data into both NinjaTrader & Sierra charts. Does this mean I will have to pay $15*2 per month for all 4 exchanges?? How do I go about getting just the top of the book for all exchanges as I don't need market depth?? Do I go through sierra charts or contact brokers directly?? Maybe Matt can let me know what to do...

Thx

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  #215 (permalink)
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smalltrader35 View Post
I am using Rithmic data into both NinjaTrader & Sierra charts. Does this mean I will have to pay $15*2 per month for all 4 exchanges?? How do I go about getting just the top of the book for all exchanges as I don't need market depth?? Do I go through sierra charts or contact brokers directly?? Maybe Matt can let me know what to do...

Thx

The short answer is yes, if you have two different logons. You will have to contact your broker.

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  #216 (permalink)
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smalltrader35 View Post
I am using Rithmic data into both NinjaTrader & Sierra charts. Does this mean I will have to pay $15*2 per month for all 4 exchanges?? How do I go about getting just the top of the book for all exchanges as I don't need market depth?? Do I go through sierra charts or contact brokers directly?? Maybe Matt can let me know what to do...

Thx

I have PM's you and we will take care of with our support team.

Matt

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
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  #217 (permalink)
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mattz View Post
I have PM's you and we will take care of with our support team.

Matt


Thanks Matt...

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  #218 (permalink)
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SMCJB View Post

I would like to reemphasize the member netting program they have. The way it was explained to me, if you are a member and registered with the exchange under the netting program you will then be billed directly by the CME, and will not have to pay any data fees at the broker level no matter how many brokers, or devices/platforms you have.

It should be noted that if you are a professional on one exchange you are considered a professional for all the exchanges. Similarly if you are member on just one exchange you are entitled to netting on all exchanges as well. I mention this because some of the memberships are very cheap. (CME/GEM $100/mth, CBOT/IDEM $46/mth!). While these memberships may not come with the fee breaks that some of the more expensive memberships do but for a small fee you may be able to qualify for membership data bundling across the CME Group. An additional thing to consider though is the potential tax implication of being a member.

CME Member Netting Information
http://www.cmegroup.com/market-data/distributor/members.html

CME Membership & Lease prices
http://www.cmegroup.com/company/membership/membership-pricing.html

Thanks for sharing. Do leases count as memberships for this purpose? What are the tax implications of membership?

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  #219 (permalink)
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Futures Operator View Post
Do leases count as memberships for this purpose?

I think so. (It does for me)

Futures Operator View Post
What are the tax implications of membership?

I think it makes your trading earnings subject to self employment tax. (It does for me again)


Disclaimer. I'm not an accountant, I'm a trader, hence this is only my understanding and while I believe it to be accurate it may be incorrect.

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  #220 (permalink)
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Hi Matt,

Below is my original post via the https://futures.io/brokers-data-feeds/29748-cme-fee-changes-2014-significant-impact-22.html thread. I've only just checked my balance and I've been charged $15 per month for the market depth instead of the Top Of The Book deal I thought was set up for me since the start of the year. Not to worry about the oversight. Can you set up the Top Of The Book for me now as I don't need market depth? Is there anything I need to do my end regarding NT or Sierra?? I require CME, CBOT, NYMEX & COMEX Bundle Top Of The Book Only = $3 per month.



smalltrader35 View Post

I am using Rithmic data into both NinjaTrader & Sierra charts. Does this mean I will have to pay $15*2 per month for all 4 exchanges?? How do I go about getting just the top of the book for all exchanges as I don't need market depth?? Do I go through sierra charts or contact brokers directly?? Maybe Matt can let me know what to do...

Thx

I have PM's you and we will take care of with our support team.

Matt

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